Blockchain Surpasses 51.66 Million, Accounts Hit 163.5 Million, Transactions Rise To 5.72 Billion, TVL Hits $12.6 Billion

• Tron has passed the block height mark of 51.66 million with 7,343 nodes across the network.

• Tron has the second highest Total Value Locked (TVL) among blockchain networks, with a significant sum of $5.61 billion locked across 22 protocols.

Tron’s original cryptocurrency, TRX, can now be spent on Ethereum (ETH) blockchain thanks to the use of the BitTorrent (BTT) Bridge. This integration allows TRX to tap into the vast decentralized finance (DeFi) ecosystem, which is considered the largest in the industry.

Justin Sun, the founder of Tron Networkk, shared in a tweet that TRX has achieved “full availability within the Ethereum ecosystem”, and also provided the contract address for the token. BitTorrent Bridge offers a convenient and efficient solution for transferring assets between blockchains compatible with the Ethereum Virtual Machine (EVM) and the Tron network. This bridge facilitates seamless and rapid asset movement between these platforms.

This step will improve TRX’s liquidity and promote its use within DeFi protocols. Ethereum is the leading DeFi ecosystem, with DeFillama data indicating that the total value of assets locked in over 800 protocols exceeds $80 billion.

At the same time, Tron has the second highest Total Value Locked (TVL) among blockchain networks, with a significant sum of $5.61 billion locked across 22 protocols. According to data from Crypto News Flash, TRX has experienced an increase of 0.20 percent in the last 24 hours and is currently trading at a value of $0.0775 at the time of this report.

Tron’s blockchain height hits a new high

The official Twitter account of the TRON blockchain network, known as TRON DAO, provided an overview of the protocol’s performance between May 29 and June 4. According to data provided by the blockchain network, it has passed 51.66 million block height with a total of 7,343 nodes across the network.

📢#THRONE Weekly report 5.29-6.04

✅#THRONE the blockchain height exceeded 51.66 million.
✅Total number of accounts on #THRONE reached 163,534,456.
✅Total number of transactions on #THRONE reached 5.72 billion.
✅ That #TVL on #THRONE reached $12.6 billion.https://t.co/twZiDTDSOV

Follow us for the latest crypto news!

— TRON DAO (@trondao) 7 June 2023

In addition, TRON stated that the total number of accounts on the TRON network had reached 163,534,456, and an impressive 1,510,259 accounts were added during the week. Furthermore, the total number of transactions on TRON has reached 5.72 billion, with an additional 62.39 million new transactions recorded this week. Also, Total Value Locked (TVL) on TRON has reached an impressive $12.6 billion.

Furthermore, this is exciting news for the Tron community, as this announcement comes after Justin Sun, TRON’s founder, took to his Twitter account to share that the blockchain network has recorded 10,935,762 transactions in a single day.

With these new achievements, TRON has established itself as a prominent player in the blockchain sector by demonstrating its growing popularity and widespread adoption. This achievement provides solid evidence of TRON’s position as a significant player in the industry.

Tron plans to launch a significant network upgrade known as GreatVoyage v4.7.2 Periander in June. The exact details and features of the upgrade are currently under discussion and finalization. This upgrade aims to introduce beneficial improvements to the network, such as improvements to Stake 2.0 and giving users increased flexibility in withdrawing cash related to unstaking transactions.

Crypto News Flash does not endorse and is not responsible or liable for the content, accuracy, quality, advertising, products or other materials on this site. Readers should do their own research before taking any action related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damages or losses caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned.